Prestige Consumer Healthcare Launches $400M Senior Notes Due 2034
PBH•Prestige Consumer Healthcare’s subsidiary plans a private offering of $400 million senior notes due 2034, guaranteed by the parent and domestic subsidiaries. Net proceeds and cash on hand will redeem all outstanding $400 million 5.125% senior notes due 2028 at 100% of principal plus accrued interest.
1. Offering Details
Prestige Brands, Inc., a wholly-owned subsidiary of Prestige Consumer Healthcare, intends to offer up to $400 million of senior unsecured notes due 2034 in a private placement to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. The notes will be guaranteed by the parent company and certain domestic subsidiaries.
2. Use of Proceeds and Redemption
The company plans to use the net proceeds, together with cash on hand, to redeem in full its existing $400 million 5.125% senior notes due 2028 at a redemption price of 100% of principal plus accrued and unpaid interest. Redemption is conditioned on completing the new notes offering, though the financing condition may be waived at the issuer’s discretion.
3. Terms and Conditions
The new notes and guarantees will not be registered under the Securities Act and can only be offered through a private offering memorandum. Any offer or sale in the United States will rely on an exemption from registration requirements, and the transaction is subject to customary closing conditions and market terms.
